TOPE AWOTONA, THE 40-YEAR-OLD founder and chief executive of Calendly, leans back in his chair and lets loose a loud guffaw.
You call it on message, I call it the truth, he says, slapping his hands on the table. The truth, as Awotona has it, is that everyone needs Calendly, his scheduling software, to lead better, more productive, happier work lives.
Nine years ago, Awotona started Calendly, pouring his life savings of $200,000 into it and later quitting his job selling software for EMC. Today, the company has 10 million users and counts Lyft, Ancestry com, Indiana University, and La-Z-Boy among its customers. Revenue last year passed $100 million, double what it booked the previous year. It could double again this year.
The company, which was founded in Atlanta but no longer has any physical offices, has been profitable since 2016. Last year it raised $350 million in funding from OpenView Venture Partners and Iconiq Capital at a price that values the business at $3 billion. That means Awotona's majority stake is worth at least $1.4 billion, after the 10% discount that Forbes applies to shares of all private companies. Awotona is one of just two Black tech billionaires in the United States, along with David Steward, the 70-year-old founder of Missouri-based IT provider World Wide Technology. Tope could be the most successful African-American tech entrepreneur of his generation, says David Cummings, founder of Atlanta Ventures, which led a $550,000 seed investment in Calendly seven years ago.
Calendly doesn't have the scheduling business to itself. Square, Microsoft and Zurich-based Doodle offer competing products. But Calendly has gained traction with its sleek, consumer-friendly design and its freemium model that lets it gain paying customers with no marketing.
Bu hikaye Forbes Africa dergisinin June-July 2022 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Forbes Africa dergisinin June-July 2022 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Giriş Yap
HIP-HOP'S HOTTEST HUSTLER
The Memphis rap star runs one of the biggest music labels, owns a piece of an MLS team and is looking to expand his empire like his billionaire mentor Jay-Z. But first, he's going to business school.
Kigali Triennial, The Ambitious New Event On The African Cultural Calendar
Rwanda has rightly earned the nickname of \"a land of a thousand hills and a thousand and one opportunities\" because of the country's impressive economic progress. However, after the recently-concluded celebration of arts which was the inaugural Kigali Triennial festival, you can now add culture to the list of things the country offers for tourists and investors.
The dark Side of AI
There is a thin line between innovation and abuse. A look at how large language models (LLMs) are making cyber-criminals even better at mastering the art of deception.
Gene Gamechanger
Disease-resistant crops? Cows that can withstand climate change? Here's how CRISPR is already transforming the continent, and why building a network of skilled scientists can help position Africa as a key global contributor in this frontier of crop development.
Women Empowerment And Transformation In Mining: A Distinctive Perspective
GMDC is a mining company that specializes in tungsten (wolfram) and operates in the city of Kigali, Nyarugenge District, Mageragere Sector.
How The Mining Sector Contributes To Community Development Initiatives
It plays a significant role in Rwanda's overall development, contributing to infrastructure, job creation, health, education, and even environmental conservation. It's not just about extracting resources; mining is mandated to build up the communities and nation alongside its operations.
Reflecting On 2023 Milestones And A Look Ahead
Last year solidified Rwanda's position as a prime African mining investment destination and a burgeoning hub for mineral value addition. What will 2024 hold?
Rwandan Mining Regulator Unveils Three-Year Mineral Exploration Campaign
A holistic approach to responsible mineral resource management in the country.
TASTING SUCCESS
Paul Siguqa has had an unlikely journey in the wine business in South Africa. His mother worked in the vineyards as a laborer during the apartheid era and now, his fully black-owned wine farm sells premium products.
Creating Stronger Communities In Africa Through Digital And Financial Inclusion
In Sub-Saharan Africa, a silent barrier to economic inclusion and social mobility persists: one in four adults lacks identification, according to a World Bank report.